Money Tips - Saving Money

There are several money tips online and on books, but only few people actually practice those tips when it comes to saving money. One of the things that make money-saving seemingly difficult is that most people tend to set unrealistic goals and get discouraged along the way when it seems they are not attaining their set goals.

One of the fastest ways to save money successfully is to kill your debt first! If you doubt it, just calculate the amount spent monthly on your debts, this will help you understand that debt elimination is the quickest way to free up money. As soon as you free money from repayment of debt, the money can swiftly and easily be converted to savings.

Other Money Tips

Trimming down your expenses is one of the best ways to save money; there are several ways you can trim your expenses;

It is sensible to consider a less costly apartment, you may even need to move out from an existing expensive apartment if you already have one - this is especially necessary if you have some urgent money-saving set goals to attain within a specified period of time
Debt consolidation; this will help you to pay less interest
Mortgage refinancing
Instead of keeping up to 2 cars, it could be sensible to give up one - and save the money spent monthly on gas for the second car. You can get another car when you have substantially attained your savings goal, or if your income has increased and you can meet your monthly money saving goals and still keep a second car.
Go for better bargains on insurance. Don't just settle for the first or second insurance service provider you come across; do a little research, ask everyone you know in order to ensure that you obtain the best price possible. Imagine your friend paying about $5000 yearly on the same object of insurance that you are paying up to $7000 yearly! This means you are losing a huge sum of $2000 to an insurance company yearly.
It can also help to resort to a home brewed coffee rather than a costly coffee house latte. Do you know that this single decision can save you about $4 daily - which will amount up to $500 or more yearly?
Choose the discount racks for your shopping at clothing stores. You can save over 45% percent by opting for items on clearance which are marked down substantially.
Consider saving money on phone call by using free services on the internet such as Skype.
Also, eat out less; consider bulk purchase of grocery and commence the use of coupons - these will help you save substantially.
Avoid the use of credit card - learn to pay via money orders or with cash for all your purchases. It's also advisable to avoid using checks. The temptation and ease of overspending when pulling from a credit card or bank is more when compared with using cash at hand. But if you can exercise self-control with the use of credit card, go ahead and use it.

The money tips outlined above can help you save more than you can ever imagine; they are not difficult money saving tips, all you need is determination and consistency to attain them.

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